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Annuities Provided By Our Agency

What does retirement mean to you? You might look forward to time with your grandchildren and a favorite hobby. Or maybe you want to play endless rounds of golf and explore the world. Whatever your goals, they probably depend on a reliable source of income.

And thatโ€™s where an annuity can help. Theyโ€™re insurance products designed to provide you with a way to accumulate tax-deferred savings while you prepare for retirement, and a steady stream of retirement income.

What are Annuities?

Annuities are designed to help you grow your retirement income. Theyโ€™re long-term contracts from an insurance company where you invest your money. In return for your investment, you get income in the form of regular payments.

An annuity is a long-term investment that is issued by an insurance company and is designed to help protect you from the risk of outliving your income. Through annuitization, your purchase payments (what you contribute) are converted into periodic payments that can last for life.

Investing involves risk, and your investments may lose value. All guarantees and protections are subject to the claims-paying ability of the issuing insurance company, but the guarantees do not apply to any vairable accounts, which are subject to investment risk, including the possible loss of principal.

Types of Annuities

There are several types of annuity products available to choose from. Whether youโ€™re looking for income options, legacy planning tools or spousal protection, your financial professional can tailor a plan to meet your specific goals.

Variable: Thereโ€™s the potential for more earnings, but you also take on more risk.

Registered index-linked: Exposure to downside risk is limited, and there is potential for increased earnings based on index growth.

Fixed: Your investment grows based on a guaranteed rate of return.

Immediate: Convert a lump sum of money into a stream of income.

Fixed indexed: The potential for increased earnings is based on index growth, but thereโ€™s still downside protection.

How can Annuities be beneficial for you?

There are several types of annuity products available to choose from. Whether youโ€™re looking for income options, legacy planning tools or spousal protection, your financial professional can tailor a plan to meet your specific goals.

Variable: Thereโ€™s the potential for more earnings, but you also take on more risk.

Registered index-linked: Exposure to downside risk is limited, and there is potential for increased earnings based on index growth.

Fixed: Your investment grows based on a guaranteed rate of return.

Immediate: Convert a lump sum of money into a stream of income.

Fixed indexed: The potential for increased earnings is based on index growth, but thereโ€™s still downside protection.

Risk involved in Annuities

Like any investments, annuities carry risks. For example, if you pass away before the payout period, you miss out on annuity payments. In addition, it may not be easy to take money out of your annuity account after youโ€™ve invested it. Investors should research the insurance company that is underwriting the annuity. Risks include
  • Missing the income benefit. The idea behind annuities is that you save money now to have an income stream for the rest of your life. If you suddenly pass away, you would miss out on that long-term benefit. Some annuities allow you designate a beneficiary, but it may come with an extra cost.
  • Tying up money you may need. Once youโ€™ve invested your money in an annuity, it can be difficult to access it or cash it out if you suddenly need those funds. For example, some immediate annuities take away access to your principal after you have invested it, even though the payments begin right away.
  • Insolvent insurance companies. Because an annuity is a long-term investment, youโ€™ll want to make sure the company you purchase it from is around for the long term. Investors should investigate the credibility, history and credit standing of potential annuity providers.
    Consult us with us to understand annuities better. Contact us today to know more about how annuities can help !

Already have Annuities? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesnโ€™t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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About Browne Insurance Services

Browne Insurance Services helps you choose from a variety ofย personal insuranceย andย business insuranceย solutions.

LIC# 0M71320
190 W Amado Rd Palm Springs, CA 92262
We extend coverage to individuals and businesses in Campbell, Palm Desert, Palm Springs, Pollock Pines, and Santa Clara areas.
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